New World Oil Share Discussion Threads

[cyan] 17/9/2015 18:08

I suspect Soul Limbo meant this financial definition as opposed to taking Cyanide and offing yourselves.

poison pill.

NOUN

1.
finance

a tactic used by a company threatened with an unwelcome takeover bid to make itself unattractive to the bidder.

[elcapital] 17/9/2015 17:19

It is not forecast to go to twenty, GS just said it could go there, not that it would you muppet.

[nerdofsteel] 17/9/2015 17:11

even if it's not a duster with oil forecast to go to $20 a barrel I doubt it's worth the effort

[soul limbo] 17/9/2015 16:21

poison pill

[cyan] 17/9/2015 16:17

Wow, a very brave move or a desperate roll of the dice?
If its a duster, then what?

[the stigologist] 17/9/2015 14:25

Oil was as low as $10 per barrel in late 1990's

[the stigologist] 17/9/2015 14:25

Yes it could go lower

[elcapital] 17/9/2015 14:23

No it is not

Goldmans said it COULD go that low it didnt say it will.

[nerdofsteel] 17/9/2015 13:46

Brent Crude forecast to go to $20 barrel

[andy] 17/9/2015 08:04

Even though he has a poor understanding of mathematics!

[skez13] 16/9/2015 21:18

oh dear Chris oil showing us all how he is the guru of the stock market lol

[nerdofsteel] 16/9/2015 14:08

Having spent many millions with nothing to show for it they have dumped the Danish licences

Belize - not worth a jot

Oil price predicted to go to $20

The only hope is they start building a property portfolio and forget Oil and Gas

[andy] 15/9/2015 15:48

Cyan,

After the failure of Belize, I always contended the Danish assets were just a fallback so there was something else to hold investor interest.

The total failure to attract a JV partner was the other red flag, it's been obvious for ages that had the assets looked that good, there would have been interest, which there wasn't.

I guess this was the right time to do it, no point in throwing what good money you have remaining after bad and paying to continue the licences.

Maybe a sign that management here aren't going to simply give the keys willingly to the prospective incumbent?


Nerd,

I agree completely, hand cash back to shareholders and put this dog with fleas down kindly.

But manageent's don't normally do those sort of things as that tends to be fatal for their emoluments!

[abdiel1812] 15/9/2015 14:43

lol @ cliffbarn2 MSMN has to be one of the best shorts available atm

[aggieuk] 15/9/2015 14:38

Cliffbarns P&D'er!

[cliffbarns2] 15/9/2015 14:34

FOLKS get your money into msmn for 2 weeks 100 % on the cards get out of here NOW

[cyan] 15/9/2015 14:25

Remember Chrisoil tweeted this yesterday morning;


"Chris Oil ‏@chrisoil · 50 mins50 minutes ago
Bullish on New Oil lets see what the REAL management got on 17th conf call maybe RNS in morning ??????"

"bullish"!

Did he get wind of the bad news and dump a load?

[nerdofsteel] 15/9/2015 14:16

Oil price predicted to reach $20 a barrel which means any invetsment they do make could become worthless.

The best course of action is to simply hand back the cash that's left to Shareholders and shut up shop.

[adred] 15/9/2015 14:06

Useless plonkers ! Belize will be dropped in time its worthless.


The sooner Adam Reynolds takes over the better.

[cyan] 15/9/2015 13:58

So much for all the bluster about farm ins and the great Danish assets.

Burning £100k a month still and what to show for it?

[adred] 15/9/2015 13:56

RNS Number : 1347Z

New World Oil & Gas

15 September 2015

New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas

15 September 2015

New World Oil and Gas Plc ('New World' or the 'Company')

Relinquishment of Danish Licences

New World Oil and Gas Plc, an oil and gas operating company, announces that it has relinquished its Danica Jutland Licences 1/09 and 2/09 and Danica Resources Licence 1/08 (together 'the Licences') in Denmark following the expiry of the Licences on 15 September 2015. The Company held a 25% interest in each of the Licences, with its partners Danica Jutland ApS, Danica Resources ApS and the Danish North Sea Fund holding the remaining interest. This is in line with the approach indicated in the recent interim statement bearing in mind that no farm-in partner has been identified. A full impairment reserve was included in the unaudited interim balance sheet as at 30 June 2015 in respect of these licences.

New World's non-executive Chairman, Chris Einchcomb stated, "Despite a comprehensive analysis of the Licences confirming valid prospectivity, in the current oil price environment and in light of the early stage of development we believe it is the right decision to relinquish the Danish licences. We have maintained good relationships with our partners and the government and with this in mind we are in a good position to seek opportunities in Denmark in the future should any present themselves.

"Although the price of oil has made it a challenging time for many E&P companies, we believe it has also created many opportunities to acquire undervalued late stage projects. With funding recently secured we are well placed to pursue projects that provide near-term cash flow as well as progress our on-going farm-in discussions for our Blue Creek Project in Belize which is at a drill-ready stage. We will continue to update shareholders on our progress as and when negotiations mature."

[r ball] 14/9/2015 17:13

what management? it's three chaos who aren't even drawing a salary. I would be glad to leave this deadcompany and a takeover bid is a good opportunity. why don't the nwog start a new company which would not have contingent liabilities? much cheaper and quicker.